The Kuaishuan Factory is divided into two major businesses, one is the reward business, and the other is the credit card loan repayment business. The latter is the main business. Strictly speaking, the Kuaishuan Factory is an intermediary service provider for payment agents. In fact, it takes advantage of the bank's loopholes, and it is indeed a good place for users to borrow money.

The essence of Kuaishuan Factory is to cash out by swiping credit cards, but it is not a virtual card swiping or POS machine cash out. Instead, it cooperates with payment companies and conducts transactions with real merchants. The method of swiping cards also simulates the consumption habits of users. . Users bind their own credit cards and debit cards with the same name on the platform. The most powerful part of the platform is to swipe the card, and the money in the credit card is spent through merchants and then returned to the user's debit card. This is the essence of borrowing from Kuaishou Factory.

So in fact, users are borrowing money from themselves, which will not generate high interest. What they need to pay to the platform is basically the merchant's card swiping fee and the fees earned by the platform, which is basically 60,000. To put it bluntly, users still borrow money from banks, but instead of taking the high-interest channel, they use Qiaojin to open another low-cost channel that is not well known to the public.

Are there any legal risks?

To be honest, this operation does not violate any law, and this model does not affect the interests of the bank. The bank still earns the handling fee for swiping the card. Moreover, it is a fact that many people have no income during the epidemic, and banks are not willing to see a large number of overdue or even bad debts. Furthermore, there are many people who need to borrow money. Now we need to resume production and consumption and release liquidity. This operation is a good way. Judging from the current social situation, this product targets a wide range of people and the market is large. Therefore, Kuaiyi Factory is beneficial to both users and society. On the premise of complying with the law and keeping user information confidential, this business can be said to benefit the public.